The Power Duo of Asset and Inventory Control Tracking Software

Every day, companies make purchases that are core to business operations. Whether it’s IT equipment used internally or products that are going to be sold to consumers, keeping track of each and every item a business uses is key on the path to success. Companies have a few key goals in common, no matter their size or industry focus — to cut costs, save time and make the best use of the allocated budget. Finding the appropriate tool that can achieve these goals while at the same time aid asset and inventory control tracking is proving to be one of the most useful investments a company can make. Add in the benefit of financial and time savings, companies are reaping the rewards these powerful tools bring to daily operations.

There is sometimes a blurred line between assets and inventory. Inventory is typically referred to as consumables, as they are typically sold or used within a certain time frame. The assets used to track and maintain the inventory business holds are key in keeping up with each item and preventing financial losses due to issues like misplaced or lost items, theft, damage (intentional or natural), or unplanned maintenance issues leading to a temporary loss or possibly a complete loss of an asset.

By having an asset tracking system working in tandem with inventory control tracking software, companies have a comprehensive solution in place that can provide the entire lifecycle of each and every asset viewable anytime from anywhere. Delegated employees can see where an asset is and who has it, its check in/check out status, a full maintenance and repair history and so much more. This historical data track helps locate assets when needed, reduces disruptions in operations, and avoids the expense of purchasing unnecessary replacements.

Additionally, asset tracking saves valuable manpower hours which would otherwise be spent on tasks like tracking down missing assets in-house or across several locations or reconciling what is on-hand versus what the asset tracking method of choice (if there is one in place) shows and if the numbers match up. If they don’t, then staff are faced with the difficult task of trying to find out why.

One of the most important and valuable savings that asset and inventory control tracking brings is the inclusion of a barcode scanner that is typically included with the tracking software. Scanning the barcode on an asset can quickly bring the user to a database of vital information that has been captured using an employee’s own smartphone or tablet. Management can customize the data that is captured, giving users access to only the information they need to see. Users can store vital asset-related information as photos, documents, voice notes and videos; a complete maintenance history; insurance information; expiration dates; lease/purchase information; check-in/check-out status; depreciation and inflation; and GPS coordinates, among many other details. All with one click.

As companies grow and learn about their customers and their needs, they are faced with other issues that asset and inventory control tracking can assist with. One such issue is forecasting and maintaining more precise inventory counts based on historical data and previous orders as recorded in the software. Having this data readily available enables staff to identify trends or time periods where inventory may be more in demand and keeps companies from being stuck with a surplus of materials that take up space and money as well as internal assets that could be used elsewhere.

Even for the least tech-savvy individual, using an asset tracking and inventory control system can be a quick and simple solution to managing assets. Asset Panda is the most robust, yet simple to use, asset tracking software on the market. Asset Panda enables users to track their assets exactly how they want, and from the mobile devices, they already carry. The platform may be accessed either online or via free mobile iOS and Android apps that sync with the cloud. The apps include a mobile barcode scanner, so there’s no need to purchase a separate, expensive handheld barcode scanner.

Asset Panda adapts to the way that you work taking its users to the next level of functionality for all of their asset and inventory control tracking needs. Try Asset Panda for yourself with a free 14-day trial and see how easy it is to access the information you need, when you need it, from wherever you happen to be working. Visit assetpanda.com to get started today.